Cushman & Wakefield PLC $CWK Stake Trimmed by Bessemer Group Inc.

Key Points

• Bessemer Group drastically reduced its Cushman & Wakefield stake by 99.7% in the first quarter, selling 868,945 shares and retaining 2,869 shares valued at approximately $35,000. Institutional investors collectively own 95.56% of the company.
• Cushman & Wakefield reported quarterly EPS of $0.15, beating estimates by $0.02, while revenue rose 11% year over year to $2.54 billion. Analysts expect full-year EPS of $1.45.
• Shares recently opened at $13.66, below the analyst consensus target of $18.00; coverage remains moderately bullish, with five Buy ratings and five Hold ratings.

Bessemer Group Inc. reduced its position in Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 99.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,869 shares of the company's stock after selling 868,945 shares during the period. Bessemer Group Inc.'s holdings in Cushman & Wakefield were worth $35,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Cushman & Wakefield by 126.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company's stock valued at $26,000 after acquiring an additional 1,321 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Cushman & Wakefield in the fourth quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cushman & Wakefield by 184.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,032 shares of the company's stock worth $33,000 after purchasing an additional 1,318 shares during the period. Quarry LP boosted its holdings in shares of Cushman & Wakefield by 4,473.5% during the third quarter. Quarry LP now owns 2,241 shares of the company's stock worth $36,000 after purchasing an additional 2,192 shares during the period. Finally, Covestor Ltd grew its position in Cushman & Wakefield by 4,217.7% during the fourth quarter. Covestor Ltd now owns 2,677 shares of the company's stock valued at $43,000 after purchasing an additional 2,615 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cushman & Wakefield Price Performance

Shares of CWK opened at $13.66 on Wednesday. The firm has a market cap of $3.20 billion, a PE ratio of 42.68 and a beta of 1.44. The firm's 50 day moving average price is $13.21 and its 200 day moving average price is $13.72. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.13. Cushman & Wakefield PLC has a twelve month low of $11.56 and a twelve month high of $17.40.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Cushman & Wakefield PLC will post 1.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $17.00 target price on shares of Cushman & Wakefield and gave the stock a "buy" rating in a research report on Friday, May 22nd. Wall Street Zen cut shares of Cushman & Wakefield from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Finally, Weiss Ratings raised shares of Cushman & Wakefield from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, June 26th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.00.

Insider Activity

In related news, insider Nathaniel Robinson sold 24,828 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $13.25, for a total value of $328,971.00. Following the completion of the sale, the insider directly owned 70,876 shares in the company, valued at approximately $939,107. This represents a 25.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.74% of the company's stock.

Cushman & Wakefield Company Profile

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm's core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.

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